IMF Sees Risks for Asia-Pacific

TODAY: May 7, 2015 PUB DATE: May 7, 2015

BEIJING--Rising debts, a stronger dollar and weaker-than-expected performances from China and Japan pose increasing risks to the broader Asia-Pacific region, even as it looks likely to remain the world's fastest-growing, the International Monetary Fund said. The Asia-Pacific region is likely ...

MetLife's Operating Profit Rises 4.9% -- 2nd Update

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Leslie Scism Rivals MetLife Inc. and Prudential Financial Inc. posted increases in first-quarter operating profit, even as the life-insurance industry continues to wrestle with ultralow interest rates. MetLife, the U.S.'s largest life insurer by assets with a large international ...

Australia's Job Market Weakens

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By James Glynn SYDNEY--Australia's unemployment rate rose to a seasonally adjusted 6.2% in April from March, as the number of people in full-time work droppped sharply. The new jobless rate, up from 6.1%, was in line with what economists had ...

FTC, Sysco Face Off in Federal Court Hearing

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Brent Kendall WASHINGTON--The Federal Trade Commission in court proceedings Wednesday sought to build its case against the merger of food distribution rivals Sysco Corp. and US Foods Inc. by arguing that the next-largest industry competitor can't replace competition being ...

Alfa, Harbour Energy to Bid for Pacific Rubiales Energy -- Update

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Anthony Harrup Mexican conglomerate Alfa's planned purchase of Canadian-Colombian oil company Pacific Rubiales Energy Corp. extends a welcome lifeline to a company hard hit by the plunge in world oil prices, while promising to bring experience for a buyer ...

U.S. Steel CEO Says Tariffs Could Be Needed on Chinese Imports

TODAY: May 7, 2015 PUB DATE: May 7, 2015

NEW YORK-- U.S. Steel Corp. and the ailing American steel industry might need tariffs on Chinese-made steel in order to survive, Chief Executive Mario Longhi said in an interview. "Assume nothing happens, it could put at risk the existence of ...

U.S. Steel CEO Says Tariffs Could Be Needed On Chinese Imports

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By John W. Miller NEW YORK-- U.S. Steel Corp. and the ailing American steel industry might need tariffs on Chinese-made steel in order to survive, Chief Executive Mario Longhi said in an interview. "Assume nothing happens, it could put at ...

Tesla Buys Michigan Auto-Parts Maker

TODAY: May 7, 2015 PUB DATE: May 7, 2015

Tesla Motors Inc. has agreed to buy a Michigan auto-parts maker, Riviera Tool, for an undisclosed amount. The Grand Rapids, Mich. company makes stamping-die systems used to create body panels. Tesla confirmed the agreement to buy the company after a ...

ASIA MARKETS: Asia Stocks Fall After Yellen Warning

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Chao Deng Hong Kong stocks on course for sixth straight day of losses. Stocks across Asia fell Thursday on concerns about the sluggish U.S. economy and overvalued equity markets, with Shanghai dropping the most and extending a deep two-day ...

Tesla's Loss Widens

TODAY: May 7, 2015 PUB DATE: May 7, 2015

Tesla Motors Inc.'s first-quarter loss widened to $154 million, compared with $49.8 million in the same period a year ago, as higher capital spending and other costs offset higher Model S electric sedan sales. The Palo Alto, Calif., luxury car ...

Oil Slump Drives Election Upset in Canadian Province

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Chester Dawson And Paul Vieira CALGARY--The long-serving center-right government of Canada's oil-rich Alberta province became the first major Election Day casualty of slumping global oil prices, as a left-leaning government swept to power in a vote that shocked Canada's ...

Malaysia March Exports Grow 2.3% on Year

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Jason Ng KUALA LUMPUR, Malaysia--Malaysia's March exports unexpectedly rose 2.3% from a year earlier, beating market estimates, thanks to higher electronics demand from the U.S., China and Europe, official data showed Thursday. A survey of nine economists by The ...

Treasury Plans More Short-Term Debt

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Min Zeng And Katy Burne The U.S. Treasury Department said it plans to increase the supply of short-term debt, in a bid to ease investors' concerns about difficulty trading in global bond markets. Increasing the issuance of U.S. Treasury ...

H-P Unveils Details in Case Against Autonomy

TODAY: May 7, 2015 PUB DATE: May 6, 2015

By Robert McMillan Hewlett-Packard Co. said Autonomy Corp. improperly reported $709 million in revenue over 2 1/2 years before H-P bought the British software maker for $11 billion in 2011, as it fleshed out fraud allegations against former Autonomy executives. ...

Kocherlakota: Fed Shouldn't Raise Rates in 2015

TODAY: May 7, 2015 PUB DATE: May 6, 2015

By Ben Leubsdorf The Federal Reserve shouldn't raise its benchmark short-term interest rate in 2015, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota reiterated Tuesday. The U.S. central bank "can best achieve its objectives by keeping the fed funds rate ...

J.P. Morgan Chase Details New Probes in Filing

TODAY: May 7, 2015 PUB DATE: May 6, 2015

J.P. Morgan Chase & Co. detailed new investigations and updated other regulatory probes in its latest quarterly filing Tuesday afternoon. The largest U.S. bank by assets said it is in "advanced stages" of discussions with the Justice Department and the ...

States Look to Boost Taxes--update

TODAY: May 7, 2015 PUB DATE: May 6, 2015

By John D. McKinnon and Matthew Dolan About a dozen states--including several led by Republican governors--are considering significant tax increases this year, despite the success of antitax conservatives in the 2014 elections. In the latest round of the debate, Michigan ...

Oil Futures End Losing Streak

TODAY: May 7, 2015 PUB DATE: May 6, 2015

HONG KONG--Crude oil futures ended a two-day losing streak Wednesday to resume an upward march that began a month-and-a-half back. On the New York Mercantile Exchange, light, sweet crude futures for delivery in June was trading above $60 a barrel, ...